|
Severance Taxes
Severance taxes are taxes imposed on the removal of natural resources within a taxing jurisdiction. Severance taxes are most commonly imposed in oil producing states within the United States. Resources that typically incur severance taxes when extracted include oil, natural gas, coal, uranium, and timber. Some jurisdictions use other terms like gross production tax. Note that severance taxes are used in jurisdictions where most resource extraction occurs on privately owned land and/or where sub-surface minerals are privately owned (for example, the United States). Where the resources are publicly owned to begin with (for example, in most Commonwealth and European Union countries), it is not a tax but rather a resource royalty that is paid. In the case of the forestry industry, this royalty is called " stumpage". Oil and natural gas Severance taxes are set and collected at the state level. States usually calculate the tax based on the value and/or volume produced; sometimes ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Natural Resources
Natural resources are resources that are drawn from nature and used with few modifications. This includes the sources of valued characteristics such as commercial and industrial use, aesthetic value, scientific interest, and cultural value. On Earth, it includes sunlight, atmosphere, water, land, all minerals along with all vegetation, and wildlife. Natural resources are part of humanity's natural heritage or protected in nature reserves. Particular areas (such as the rainforest in Fatu-Hiva) often feature biodiversity and geodiversity in their ecosystems. Natural resources may be classified in different ways. Natural resources are materials and components (something that can be used) found within the environment. Every man-made product is composed of natural resources (at its fundamental level). A natural resource may exist as a separate entity such as freshwater, air, or any living organism such as a fish, or it may be transformed by extractivist industries into ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Wyoming
Wyoming ( ) is a landlocked U.S. state, state in the Mountain states, Mountain West subregion of the Western United States, Western United States. It borders Montana to the north and northwest, South Dakota and Nebraska to the east, Idaho to the west, Utah to the southwest, and Colorado to the south. With an estimated population of 587,618 as of 2024, Wyoming is the List of U.S. states and territories by population, least populous state despite being the List of U.S. states and territories by area, 10th largest by area, and it has the List of U.S. states by population density, second-lowest population density after Alaska. The List of capitals in the United States, state capital and List of municipalities in Wyoming, most populous city is Cheyenne, Wyoming, Cheyenne, which had a population of 65,132 in 2020. Wyoming's western half consists mostly of the ranges and rangelands of the Rocky Mountains; its eastern half consists of high-elevation prairie, and is referred to as th ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Resource Extraction
Natural resources are resources that are drawn from nature and used with few modifications. This includes the sources of valued characteristics such as commercial and industrial use, aesthetic value, scientific interest, and cultural value. On Earth, it includes sunlight, atmosphere, water, land, all minerals along with all vegetation, and wildlife. Natural resources are part of humanity's natural heritage or protected in nature reserves. Particular areas (such as Fatu-Hiva, the rainforest in Fatu-Hiva) often feature biodiversity and geodiversity in their ecosystems. Natural resources may be classified in different ways. Natural resources are materials and components (something that can be used) found within the environment. Every man-made product is composed of natural resources (at its fundamental level). A natural resource may exist as a separate entity such as freshwater, air, or any living organism such as a fish, or it may be transformed by Extractivism, extractivist i ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Taxes By Type
A tax is a mandatory financial charge or levy imposed on an individual or legal person, legal entity by a governmental organization to support government spending and public expenditures collectively or to Pigouvian tax, regulate and reduce negative Externality, externalities. Tax compliance refers to policy actions and individual behavior aimed at ensuring that taxpayers are paying the right amount of tax at the right time and securing the correct tax allowances and tax relief. The first known taxation occurred in Ancient Egypt around 3000–2800 BC. Taxes consist of direct tax, direct or indirect taxes and may be paid in money or as labor equivalent. All countries have a tax system in place to pay for public, common societal, or agreed national needs and for the functions of government. Some countries levy a flat tax, flat percentage rate of taxation on personal annual income, but most progressive tax, scale taxes are progressive based on brackets of yearly income amounts. Most ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Severance Taxes
Severance taxes are taxes imposed on the removal of natural resources within a taxing jurisdiction. Severance taxes are most commonly imposed in oil producing states within the United States. Resources that typically incur severance taxes when extracted include oil, natural gas, coal, uranium, and timber. Some jurisdictions use other terms like gross production tax. Note that severance taxes are used in jurisdictions where most resource extraction occurs on privately owned land and/or where sub-surface minerals are privately owned (for example, the United States). Where the resources are publicly owned to begin with (for example, in most Commonwealth and European Union countries), it is not a tax but rather a resource royalty that is paid. In the case of the forestry industry, this royalty is called " stumpage". Oil and natural gas Severance taxes are set and collected at the state level. States usually calculate the tax based on the value and/or volume produced; sometimes ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Stumpage
Stumpage is the price a private firm pays for the right to harvest timber from a given land base. It is paid to the current owner of the land. Historically, the price was determined on a basis of the number of trees harvested, or "per stump". Currently it is dictated by more standard measurements such as cubic metres, board feet, or tons. To determine stumpage, any stand that will be harvested by the firm is first assessed and appraised through processes aimed at finding the volume of timber that is to be harvested. A given stumpage rate, measured in $/volume, is then applied to the amount of timber to be harvested. The firm will then pay this price to the landowner. Stumpage in Canada Canadian forests exist mainly on what is considered to be crown land, under the provincial governments' control. On Canadian crown land, stumpage is known as the market value of standing trees that must be paid by firms for the right to harvest timber, currently measured in $/cubic meter. In Cana ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Severance Tax Legislative History In California
A severance tax is an article of legislation that imposes a tax on the extraction of natural resources. In the United States, California is the only state that does not impose a significant severance tax. Instead, California imposes a statewide assessment fee, as set by the California Department of Conservation, and individual counties may choose to impose an ad valorem tax on a per county basis. Over the years, several measures have been introduced as ballot initiatives and legislation in an attempt to pass a statewide severance tax, though none has become law. Recent history 1990s In the 1990s, the California State Assembly proposed two similar bills, Assembly Bills 1693 by Assemblymember Burt Margolin and 336 by Assembly member Antonio Villaraigosa. Both measures imposed a 6% oil severance tax and the revenues to be raised from the measure were to be directed into California's General Fund. Both measures were stalled in their respective committees and thus never became law. ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Natural Resources Consumption Tax
The natural resource consumption tax is a kind of tax which is aimed to help ensure long run sustainability by increasing awareness of natural resource consumption. International water The popular conception of international waters is that there is no owner of them, so anyone can take advantage of them. Some propose that instead international waters are to be seen as owned by all the people of the planet. Hence, any particular person exploiting the natural resources of international waters should be taxed by the United Nations, any proxy of it, or some other international agency. Sovereignty territory At present, property law Property law is the area of law that governs the various forms of ownership in real property (land) and personal property. Property refers to legally protected claims to resources, such as land and personal property, including intellectual prope ...s govern this issue. Natural resources are bound to the land and offshore natural resources are deemed t ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Montana
Montana ( ) is a landlocked U.S. state, state in the Mountain states, Mountain West subregion of the Western United States. It is bordered by Idaho to the west, North Dakota to the east, South Dakota to the southeast, Wyoming to the south, and the Provinces and territories of Canada, Canadian provinces of Alberta, British Columbia, and Saskatchewan to the north. It is the List of U.S. states and territories by area, fourth-largest state by area, but the List of U.S. states and territories by population, eighth-least populous state and the List of U.S. states and territories by population density, third-least densely populated state. Its List of capitals in the United States, capital is Helena, Montana, Helena, while the List of municipalities in Montana, most populous city is Billings, Montana, Billings. The western half of the state contains numerous mountain ranges, while the eastern half is characterized by western prairie terrain and badlands, with smaller mountain ranges f ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Alaska
Alaska ( ) is a non-contiguous U.S. state on the northwest extremity of North America. Part of the Western United States region, it is one of the two non-contiguous U.S. states, alongside Hawaii. Alaska is also considered to be the northernmost, westernmost, and easternmost (the Aleutian Islands cross the 180th meridian into the eastern hemisphere) state in the United States. It borders the Canadian territory of Yukon and the province of British Columbia to the east. It shares a western maritime border, in the Bering Strait, with Russia's Chukotka Autonomous Okrug. The Chukchi and Beaufort Seas of the Arctic Ocean lie to the north, and the Pacific Ocean lies to the south. Technically, it is a semi-exclave of the U.S., and is the largest exclave in the world. Alaska is the largest U.S. state by area, comprising more total area than the following three largest states of Texas, California, and Montana combined, and is the seventh-largest subnational division i ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Colorado
Colorado is a U.S. state, state in the Western United States. It is one of the Mountain states, sharing the Four Corners region with Arizona, New Mexico, and Utah. It is also bordered by Wyoming to the north, Nebraska to the northeast, Kansas to the east, and Oklahoma to the southeast. Colorado is noted for its landscape of mountains, forests, High Plains (United States), high plains, mesas, canyons, plateaus, rivers, and desert lands. It encompasses most of the Southern Rocky Mountains, as well as the northeastern portion of the Colorado Plateau and the western edge of the Great Plains. Colorado is the List of U.S. states and territories by area, eighth-largest U.S. state by area and the List of U.S. states and territories by population, 21st by population. The United States Census Bureau estimated the population of Colorado to be 5,957,493 as of July 1, 2024, a 3.2% increase from the 2020 United States census. The region has been inhabited by Native Americans in the United St ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
New Mexico
New Mexico is a state in the Southwestern United States, Southwestern region of the United States. It is one of the Mountain States of the southern Rocky Mountains, sharing the Four Corners region with Utah, Colorado, and Arizona. It also borders the state of Texas to the east and southeast, Oklahoma to the northeast, and shares Mexico-United States border, an international border with the Mexican states of Chihuahua (state), Chihuahua and Sonora to the south. New Mexico's largest city is Albuquerque, and its List of capitals in the United States, state capital is Santa Fe, New Mexico, Santa Fe, the oldest state capital in the U.S., founded in 1610 as the government seat of Santa Fe de Nuevo México, Nuevo México in New Spain. It also has the highest elevation of any state capital, at . New Mexico is the List of U.S. states and territories by area, fifth-largest of the fifty states by area, but with just over 2.1 million residents, ranks List of U.S. states and terri ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
